Lunt Capital Management Inc. Has $9.97 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Lunt Capital Management Inc. lessened its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 29.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,270 shares of the financial services provider’s stock after selling 4,811 shares during the period. Texas Pacific Land accounts for approximately 4.7% of Lunt Capital Management Inc.’s holdings, making the stock its 4th biggest position. Lunt Capital Management Inc.’s holdings in Texas Pacific Land were worth $9,971,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TPL. Wealth Enhancement Advisory Services LLC boosted its stake in Texas Pacific Land by 559.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,242 shares of the financial services provider’s stock valued at $5,346,000 after purchasing an additional 7,840 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Texas Pacific Land by 522.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 622 shares during the period. State of Michigan Retirement System raised its holdings in shares of Texas Pacific Land by 200.0% during the first quarter. State of Michigan Retirement System now owns 1,200 shares of the financial services provider’s stock valued at $694,000 after acquiring an additional 800 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Texas Pacific Land by 198.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,600 shares of the financial services provider’s stock valued at $24,645,000 after buying an additional 28,329 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its stake in Texas Pacific Land by 213.2% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 3,702 shares of the financial services provider’s stock valued at $2,142,000 after buying an additional 2,520 shares during the period. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 0.7 %

NYSE TPL opened at $1,098.01 on Monday. The company has a fifty day simple moving average of $919.63 and a 200 day simple moving average of $775.77. The company has a market cap of $25.23 billion, a P/E ratio of 56.48 and a beta of 1.60. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,106.87.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The company had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same period last year, the company earned $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is 24.07%.

Analysts Set New Price Targets

Separately, BWS Financial restated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research note on Monday, August 12th.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.